paperless-financial-services

Taking the Paperwork out of Financial Services

Financial services is an umbrella term for businesses such as credit unions, banks, insurance companies, accountants and investment funds. What they have in common – after handling money – is that they generate a lot of paperwork. This comes in the form of insurance policies, bank statements, property titles, birth certificates – any legal document that needs to be handled with discretion and care.

Getting these documents from one branch of a company to another or from a client to the firm’s office used to involve a personal visit or using registered post. Then, in the late 1980s, the fax machine revolutionised the transmission of documents from A to B using phone lines. And with today’s fast and reliable internet connections, it’s now possible to securely send faxes using email, send a fax online, or email large files using a virtual fax number.

How an online fax service works


The first thing to remember is there’s no software and no actual fax line – you’re not paying for a new phone line. Instead, you’re using your existing computer, email and internet connection, or your mobile phone (more on that later).

To start online faxing, you need a new local or toll free number. This number is not, as noted, an actual phone line, but is a virtual number that you will use as if it were connected to an actual fax machine.

To send a fax from email, you create a new message, attach the document you want to send as a PDF or TIFF, type in the recipient’s fax number and hit send.

It’s not just documents that you can send either. You can email large files of any type, up to 1GB in size. With your new virtual fax number, the file is uploaded online and a link is sent to up to 20 recipients, who can then download it.

Having eFax® in place, staff members are able to remain at their stations, in work mode, without having to physically be interrupted to send or pick up a fax. This can translate into an increase in overall productivity.

Then there are the other costly elements associated with traditional fax systems. For example, for every office or department in a mid-sized firm, the owner is going to have to buy individual machines, pay for extra dedicated land lines, and of course there are the additional energy costs.

With eFax® you are using your company’s existing computers and network connections to operate the system. If you decide to expand, your employees simply need to know how to email and they can use the eFax® system. There is no proprietary equipment to purchase or set up.

Sending faxes from anywhere

You can also receive, sign and send faxes from your mobile phone while you’re on the go. And because your phone is also a camera, it can act as a scanner. You can take a photo of a document in order to send it via fax.

All the faxes that you send have lifetime cloud storage free, so that you can easily see which faxes you have sent and where to.

With a digitised signature you can drag and drop your signature onto a document without having to scan it in every time.

For added security, faxes are SSl-encrypted and stored with 128-bit encryption; there’s also no danger of documents being seen by everyone because they’re left on the machine.

Everyone wants a paperless office, especially financial services. But on those occasions when documents have to be transmitted, signed or received, the advantages of sending files by email or online are now hard to ignore.

Test drive the best online fax features with a free 30-day trial of eFax® to see the benefits for yourself.

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